Inventory management is no longer limited to recording the physical state and cleanliness of the property and its contents at the time of the letting. Recent years have seen greater regulation of the rented property sector, necessitating careful management by landlords and those they instruct to manage their properties for them.
A landlord or agent who carries out regular inspections of rental properties acts upon any specific points identified and keeps records to evidence the condition of the property. Regular inspections, repairs and maintenance assure property owners that the agent has endeavoured to discharge their legal responsibilities and has done all that is possible to protect the investment and income. There are several advantages of efficient and effective property inventory management.
To keep track of property inspections and produce inventory reports,
inventory management software remains vital to record details of each property inspection. InventoryBase provides a highly detailed inventory and schedule of condition reports facility. Taking a detailed inventory at the outset of a tenancy is vital to help avoid disputes upon check out. Our mobile letting inventory app allows you to complete inventory reports on-site without an internet connection, and what’s more, the reports of each property inspection can be completed and uploaded for clients to agree and sign as soon as you are reconnected. Our award winning software includes speech-to-text support to make it easier to complete a report by dictation as you inspect a property. Together with the rapid-fire camera capture, this makes creating detailed and accurate inventory reports as straightforward as possible.
Record details of statutory compliance
Landlords and managing agents need a straightforward system to record compliance with their legal duties. With so much regulation of the sector, it is important for those managing property to be able to keep track of required inspections and actions for each property. Our dashboard keeps a live timeline of all events and notifications for each property as well as details of the property history. Instant alerts notify you when action is due or an item is logged against a property.
Landlords need to be able to prove statutory compliance, for example with smoke alarm testing. Having a record of testing signed by the landlord or their agent and the tenant gives the landlord the necessary documentation to prove that at the outset of the tenancy, the property had working smoke alarms. Without easily accessible documentation, the landlord could struggle to defend any subsequent claim by the tenant.
Scheduling and diaries
With so many legal responsibilities for each property, it is very easy for compliance to slip through the net, with potentially costly consequences for the landlord. Using InventoryBase property management software, landlords and agents have a timeline for each property and the ability to book online with built-in calendars and team diaries. Appointments can be re-arranged simply and quickly and communication between the team, clients and tenants is made straightforward.
Access
Using our software, landlords and agents can grant access to the history of the property and any reports which have already been created for it. Tenants can view documents and add their own comments, which helps to minimise the possibility of potential disputes. Having a straightforward method for tenants to contact the landlord or their agent helps to create a positive working relationship. Early notification of any potential problems with the property means that any items of repair can be attended to promptly, reducing the risk that the condition of the property will deteriorate.
Are there any disadvantages of property inventory management software?
InventoryBase is straightforward to use and flexible to suit the individual needs of the user, removing the difficulties of complicated and inflexible property management systems. It allows landlords to manage their own properties, employ an agent or an inventory clerk or allocate work as and when they need to.
Given the volume of legislation and regulation applicable to the rented sector, it would be inefficient and unwise not to automate property management insofar as possible.
Why not contact us today to find out how InventoryBase can help you to manage your properties as effectively as possible.